Japan Shares Closed Higher, Led by Travel Stocks

Japanese shares closed higher on Monday as travel-related stocks recovered from losses stemming from concerns over coronavirus restrictions, and after ANA forecast losses lower than expected for the full year.

The Nikkei index rose 0.36% to close at 29,126.23 points, while the broader Topix index rose 0.17 to 1918.15 points.

Travel-related stocks led the gains after big declines in recent weeks, as investors closed short positions in anticipation of social restrictions to contain the fourth wave of Corona infections.

On Thursday, Japan declared a strong state of emergency for a short period in Tokyo, Osaka, and two other provinces, requiring the closure of restaurants and bars.

ANA Holdings jumped 5.78% after the airline said its full-year operating losses would be less than forecast.

Railroad shares also rose, with Central Japan Railway companies up 4.67%, West Japan Railway Company 5.23% and East Japan Railway Company up 3.44%.

Oriental Land, the operator of the Disney resort, rose 2.58%.